Urban character residential or future multi-family development site steps away from Nanaimo Yacht Club in the Brechin / Newcastle Neighbourhood. Located within walking distance to the waterfront and seawall to downtown Nanaimo, this is a popular area currently undergoing densification with several successful developments nearby. Within close proximity to ferries, helijet and seaplanes to Vancouver, and easy access to downtown's many cafes and amenities, this is an ideal location for relocators and locals alike. This home currently earns a great monthly income with great tenants in place making this a fantastic holding property in a high-demand area, or, a great restoration or renovation project and call this ideal urban location Home! Peak a boo ocean views as is, or even better with development. R8 zoning allows medium density and a 1.25 floor area ratio, and identification as a corridor zone permits 50-100 units per hectare, and 2-4 storey buildings. Measurements are approx.
Listing courtesy of eXp Realty.
Listing content Copyright 2019 Vancouver Island Real Estate Board. The above information is from sources deemed reliable, but should not be relied upon without independent verification.